McGovern Consulting Group

This MIP Cloud Bank Reconciliation module focuses on reconciling bank statements in a way that keeps cash reporting accurate and makes variances easier to resolve. If reconciliations are rushed or handled inconsistently, the problems tend to surface later as unexplained differences, unclear clearing history, or month-end delays.

The training starts with an overview of the Bank Reconciliation module, including how to access it and how it is organized. You will learn what the main file folder areas are used for and how the layout supports the reconciliation workflow, so you know where each type of item should be reviewed and cleared.

From there, the course goes tab by tab, starting with the Summary tab. You will learn how to create and use reconciliation IDs and what the Summary tab controls during the reconciliation. The module then covers the Checks/Vouchers tab, including what each column represents and how to manage outgoing items so they match the bank statement.

Next, you will work through the Deposits tab, focusing on selecting the correct deposits, understanding the key fields, and clearing deposits accurately. The Other Cash Items tab covers bank activity that hits cash outside standard checks and deposits, such as fees, interest, corrections, or adjustments, which is where reconciliations often get stuck. The training also includes the Suspense Items tab for cases where an item cannot be cleared cleanly yet, showing how to enter and manage suspense details until the transaction can be resolved.

The module finishes with a walkthrough of the bank reconciliation icons and what each one does in context, so you can move through the process efficiently without clearing the wrong items or missing exceptions. This training is designed for staff responsible for bank reconciliation in MIP Cloud and who need reconciliations that support reliable financial reporting.